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Exide Technologies
Location: Milton, Georgia, United States Founder: W.W. Gibbs Founded: 1888 Employees: 10,027 More About The Manufacturer: Exide's predecessor corporation was the Electric Storage Battery Company, founded by W.W. Gibbs in 1888. Gibbs purchased the ideas and patents of inventor Clement Payen to make the storage battery a commercial product. Gibbs targeted electric lighting companies so they could use the storage batteries to provide services to their customers. An important early customer for Electric Storage was the Electric Launch Company, also known as Elco. In 1893, the Norwegian explorer, Fridtjof Nansen, used Tudor accumulators supplied by the AFA during the expedition to the North Pole, which began in 1893, and from which he returned safely and intact in 1896. The batteries which gave light during the long polar nights were charged by a windmill, and the dynamos which were used for recharging are exhibited in the Fram Museum in Oslo, Norway. In 1898, an Electric Storage battery provided the submerged power for the USS Holland (SS-1), the first submarine commissioned in the US Navy. Electric Storage remained a significant supplier of US Navy submarine batteries at least through World War II. Isaac Rice, president of Electric Storage in 1899, was instrumental in founding the Electric Boat Company as a bailout of the Holland Torpedo Boat Company. In 1899, a Fulmen battery equipped the "La Jamais Contente" electric car – the first car in the world to exceed 100 km/h (62 mph). In 1900, the Electric Storage Battery Company developed a product of greater capacity and less weight for electric taxicabs. This battery was the first to bear the name Exide, short for "Excellent Oxide". In 1902, The Electric Storage Battery Co. formed Willard Storage Battery Co. when they acquired the battery-making assets of a jewellery manufacturer in Cleveland, OH and incorporated them. By 1950 Willard automotive batteries were outselling Exide automotive batteries although The Electric Storage Battery Co. was larger due to diversification. In 1911, Charles F. Kettering turned to the Electric Storage Battery Company for a suitable automotive battery to complement his new electric starter. This project yielded the first car battery of the modern type. (Within 5 years, there was a substantial field of aftermarket brands in storage batteries and starters for automobiles, as evidenced by the advertisements in automotive trade journals of the era.) When the United States entered World War I, Exide batteries were used to operate airplane radio sets and power radio stations. In 1934 the Electric Storage Battery Company filed for the trademark Exide Ironclad and in 1935 their trademark was registered. In 1938, the Electric Storage Battery Company acquired the Giant Storage Battery Company, and expanded into battery chargers and testers. During World War II, the Electric Storage Battery Company was a major supplier of batteries for U.S. Navy submarines and primary contractor for batteries used in the Mark 18 electric torpedo. Exide entered the dry-cell battery industry in 1957 when it acquired the Ray-O-Vac Company, the then second-largest producer of dry-cell batteries in the US. Following the acquisition of the Wisconsin Battery Company, Exide started producing motorcycle and speciality batteries. In 1972, Exide acquired the Edison Storage Battery Company, which had developed a practical nickel-iron battery in 1901. The production of this type of battery was subsequently discontinued in 1975. In 1987, Exide acquired General Battery Corporation and moved the company headquarters to Reading, Pennsylvania. Exide became a publicly traded company in October 1993. In 1996, Exide acquired the French/Italian battery corporation CEAC, Clichy. With this acquisition also came the rights to the German brands Sonnenschein and dryfit. The company Accumulatorenfabrik Sonnenschein had been founded in Berlin in 1910 by Theodor Sonnenschein, and had patented the gel-cell type of valve-regulated lead-acid battery in 1957. (Marketed worldwide under the name dryfit). In 1997, Exide NASCAR Select Batteries were introduced, which is the official battery of NASCAR. Exide NASCAR Select is engineered to start high compression engines that demand nearly twice the starting power of a typical car. In 2000, the battery brand was renamed Exide Select. Arthur M. Hawkins resigned as chairman and chief executive officer of Exide in October 1998. Robert A. Lutz, former president and vice chairman at Chrysler Corporation, was appointed Exide's Chairman of the Board. He reorganized the worldwide management structure into Global Business Units and sold off non-battery units to allow the company to concentrate on its primary business. In 2000, Exide acquired GNB Technologies, a North American supplier of automotive batteries. In 2002, Exide filed for bankruptcy after compiling a debt of $2.5 billion as a result of the recent acquisitions. In April 2004, a judge approved the company's plan to eliminate $1.3 billion in debt and exit bankruptcy protection by the end of the month. In April 2013, Exide closes plant in Vernon, California (Los Angeles County). In June 2013, Exide again filed for Chapter 11 bankruptcy protection with the aim of cutting debt and implementing a restructuring plan (Exide Technologies, Case No. 13-11482, U.S. Bankruptcy Court, District of Delaware). In April 2015, the company emerged from Chapter 11 bankruptcy protection, which reduced its debt by approximately $600 million. On May 20, 2015, the Company announced the appointment of Victor M. (Vic) Koelsch, former Executive Vice President, Michelin North America, as President and Chief Executive Officer of the Company. On May 24, 2017, Exide completed a series of financing transactions to fund growth and additional capacity. On October 25, 2017, Exide Technologies unveiled a $35 Million grid manufacturing facility in Kansas City, Missouri. On May 24, 2018, Exide expanded its motive power offering with acquisition of Aker Wade Power Technologies. On November 14, 2018, Exide named Timothy D. Vargo, former President and CEO of AutoZone, President and Chief Executive Officer of the Company. Tim is also Chairman of the Board. Between January 10 and July 30, 2019 Exide appointed new leadership in CIO, CLO, COO, CFO, and President EMEA positions. On April 2, 2019, Battery Systems, Inc. acquired Exide's branch network business and became the exclusive distributor of Exide-branded aftermarket transportation batteries. On June 26, 2019, Exide completed a comprehensive new financing and recapitalization transaction which "enhanced the Company’s liquidity, extended debt maturities and deleveraged its balance sheet." Category:Battery Suppliers Category:North American Battery Suppliers Category:American Battery Suppliers